Massive Sulphide Intersections Extends Mineralisation At Native Bee

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”), an advanced mineral explorer focused on high value clean energy metals, is pleased to announce that the first two diamonds drill holes in the recently commenced Phase 2 drill program have intersected visible massive sulphides, with the first drill hole results pictured below in Figure 1. Phase 2 drilling has commenced at the VMS Belara Project in central NSW (Belara). The extensional drilling is intended to build upon the recently announced Inferred Resources (see ASX announcement dated 3 November 2022) and determine the potential of the Belara and Native Bee Project to host commercial quantities of mineralisation.

Key Highlights

• The first two diamond drill holes in Phase 2 drilling have intersected visible massive sulphides at Native Bee.
• Results confirm the continuity of massive sulphide mineralisation at Native Bee and extends at least 70m to the south along strike and remains open to the south and at depth.
• These holes add significant mineralisation potential to the resources at Native Bee.
• The Phase 2 drill campaign continues.

Figure 1. Massive sulphides intersected from the first diamond drill hole of Phase 2 extensional drilling at Native Bee. Red inset shows massive sulphide interval from 151.50m to 155.80m, with visible copper sulphides (chalcopyrite, Cpy) and zinc sulphides (sphalerite, Sph).

Managing Director, Arvind Misra, commented:

“We are excited that the first two diamond drill holes in Phase 2 drilling at Native Bee indicate this is a highly prospective asset with more massive sulphide mineralisation discovered. Drilling of the southern extension at Native Bee continues.”

Phase 2 Drilling Campaign at Belara/Native Bee

Phase 2 drill program will see approximately 3,600m of diamond drilling occur at Belara and Native Bee. This resource extension focussed campaign aims to build on the previously announced maiden Mineral Resource Estimate (MRE) at Belara and Native Bee, comprised of an Inferred Resources of 5.0 million tonnes (Mt) at 3.41% Zinc equivalent (ZnEq) (see ASX announcement dated 3 November 2022). Specifically, the Phase 2 program is testing the exploration potential remaining along strike and at the depth of known sulphide resources at both Native Bee and Belara (see Figure 2).

The full program is expected to take around three months (concluding in the June 2023 quarter), with final assays expected 28 days after the end of the drilling.

Figure 2. Long section from the Belara historic mine through the Native Bee historic mine showing the 3D magnetic inversion data and open mineralisation

At Native Bee, Phase 2 drilling will aim to identify additional mineralisation along strike and in the vicinity of the old Native Bee mine area and assess further mineralisation potential identified in a coincident Gradient Array Induced Polarisation (GAIP) – airborne magnetics first derivative (1VD) – gravity anomaly, which extends from the area of the known mineral resource southwards (see Figures 2, 3 and 4).

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